GenoaBank

What GenoaBank does

GenoaBank is a privately held community bank founded in 1902 in Genoa, Ohio, operating 11 branch locations across Northwest Ohio (Lucas, Ottawa, Sandusky, Wood, Fulton, and Erie counties) and Monroe County, Michigan. The legal entity is The GenoaBanking Company, with GenBanc, Inc. as its holding company (which offers a Dividend Reinvestment Plan). The bank serves four primary customer segments: consumer/personal banking (with products including five checking account variants, five savings account variants, CDs, IRAs, mortgages, auto loans, personal loans, and credit cards), business banking (tiered business checking accounts, merchant card processing, remote deposit capture, cash management with Positive Pay fraud protection), agricultural lending (equipment loans, land loans, operating lines of credit, and AgLink program with Ohio Treasurer's office), and investment services through the GenoaFinancial sub-brand offered in partnership with LPL Financial.

The bank's digital banking infrastructure is built on Fiserv's platform, providing online banking and mobile applications (iOS and Android) with biometric authentication, mobile deposit, bill pay with same-day payment to over 400 merchants, eStatements, card management, and an "Instant Balance" feature. Cards integrate with Apple Pay, Google Pay, and Samsung Pay, with Mastercard SecureCode for online transaction authentication. Business customers additionally have Quicken, QuickBooks, and Microsoft Money integration for account data export, plus Positive Pay for check/ACH fraud monitoring. The bank participates in the MoneyPass surcharge-free ATM network for coast-to-coast ATM access.

Revenue is generated primarily through net interest income on loans (mortgages, auto, commercial, agricultural, personal), supplemented by deposit account fees (monthly maintenance fees below minimum balances, transaction fees above free limits), ATM/debit card fees, credit and gift card fees, safe deposit box rentals ($20-$65 annually), and investment commissions from the LPL Financial brokerage partnership. The bank's go-to-market relies on branch-based relationship banking combined with digital channels, emphasizing local decision-making, quick turnaround on credit decisions, and community involvement through sponsorships and local events as customer acquisition levers. Marketing is conducted via the company website, Facebook/Instagram/LinkedIn social channels, a monthly email newsletter, and over 40 online financial calculators.

Name

GenoaBank

Legal name

The GenoaBanking Company

Website

https://genoabank.com

Company type

Private

Founded year

1902

Operating status

Operating

Headcount range

101–250 employees

Short description

GenoaBank is a community bank founded in 1902 in Genoa, Ohio, operating 11 branches across Northwest Ohio and Monroe County, Michigan. The bank serves consumer, business, agricultural, and investment customers with checking, savings, lending, and digital banking products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

Keywords

• Retail banking services
• Community banking
• Commercial lending
• Agricultural financing
• Digital banking

Headquarters

HQ city

Genoa

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: GenoaBank generates primary revenue through interest earned on loans including mortgages, auto loans, commercial loans, agricultural loans, and personal loans. The bank offers competitive rates on various loan products with terms ranging from short-term to 84-month auto loans.
2. Deposit Account Fees: Monthly maintenance fees on accounts that fall below minimum balance requirements, transaction fees for business checking accounts exceeding free transaction limits, and ATM/debit card related fees.
3. Investment Services Commission: GenoaFinancial, offered through LPL Financial, provides brokerage accounts, IRA, 401k, 403b, pension rollover planning, professional money management, stocks, bonds, mutual funds, annuities, college savings plans, and insurance planning. The bank earns commissions on investment products sold through this partnership.
4. Safe Deposit Box Rental: Annual rental fees for safe deposit boxes ranging from $20 to $65 per year depending on dimensions, providing secure storage for valuable documents and items.
5. Card Services: Fees associated with ATM/debit cards, credit cards, and Visa gift cards. Gift cards can be loaded in amounts from $10 to $1,000 with a purchase fee.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

GenoaBank is a community bank offering personal and business deposit accounts (checking, savings, CDs, IRAs), consumer and commercial lending (auto, mortgage, personal, credit card, commercial real estate, working capital, agricultural loans), digital banking services (online, mobile, mobile deposit, bill pay, eStatements, positive pay, cash management, remote deposit capture), and investment and wealth management services through the GenoaFinancial sub-brand in partnership with LPL Financial. Products are sold directly through 11 branches, online channels, and dedicated commercial and agricultural lending officers.

Product overview

GenoaBank is a community bank offering a comprehensive suite of banking products and services. The core offerings include personal checking accounts (Graduation, Simply Free, 55+, Interest, and Fresh Start varieties), personal savings accounts (Statement, Christmas Club, Vacation Club, Money Market, and HSA), and Certificate of Deposit accounts. Business banking products include Small Business Checking, Business Checking, Business+ Checking, Non-Profit Checking, and Business Interest Checking accounts. The bank provides various loan products including auto loans, mortgages, personal loans, credit cards, commercial loans, and agricultural loans. Digital banking services encompass Personal Online Banking, Mobile Banking (iPhone and Android), Bill Pay, Mobile Deposit, eStatements, and Business Online Banking with Cash Management and Positive Pay fraud protection. Additional services include Merchant Card Processing, Remote Deposit Capture, Safe Deposit Boxes, and the GenoaFinancial investment sub-brand offering brokerage, IRA, and financial planning through LPL Financial.

Differentiator

Problem solved

Functional benefit

Brands

• GenoaFinancial: Investment services subsidiary offering brokerage accounts, IRA, 401k, 403b and pension rollover planning, professional money management, stocks and bonds, mutual funds, annuities, college savings plans, and insurance planning through LPL Financial

Products and services

• Personal Checking Accounts
• Personal Savings Accounts
• Certificates of Deposit (CDs) and IRAs
• Business Checking Accounts
• Auto Loans
• Mortgages
• Personal Loans
• Credit Cards
• Commercial Loans
• Agricultural Loans
• Personal Digital Banking
• Business Online Banking and Cash Management
• Remote Deposit Capture
• Merchant Card Processing
• Safe Deposit Boxes
• ATM/Debit Card
• Visa Gift Card
• GenoaFinancial Investment Services

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• LPL FinancialcoreStrategic or Co-development PartnerGenoaFinancial investment services are offered through LPL Financial, a registered investment advisor and broker/dealer (member FINRA/SIPC). LPL provides the platform for GenoaFinancial's brokerage accounts, retirement planning, and investment management services. GenoaBank shares information with its affiliate GenoaFinancial.
• MoneyPasscoreChannel Partner/ Reseller/ DistributorGenoaBank is partnered with MoneyPass, a surcharge-free ATM network providing thousands of ATM locations nationwide. This partnership allows GenoaBank customers to access cash without surcharges across the country.
• FiservcoreTechnology or IntegrationGenoaBank Mobile Banking is powered by Fiserv. Fiserv provides the technology infrastructure for the bank's mobile banking application, online banking platform, and related digital banking services.
• Ohio Treasurer's Office - AgLink ProgramcoreStrategic or Co-development PartnerGenoaBank partners with the Ohio Treasurer's AgLink program to provide up to 3% interest rate reduction on agricultural operating loans. The program helps Ohio farmers and agribusinesses finance upfront costs for feed, seed, fertilizer, fuel, equipment, and other expenses.
• MastercardcoreTechnology or IntegrationGenoaBank offers Mastercard debit cards with SecureCode authentication for enhanced online security. Cards support mobile wallet integration with Apple Pay, Google Pay, and Samsung Pay.

Scale indicators3 records

Recent moves8 records

Expansion highlights4 records

Market position

Strengths4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php?id=100063196525469
• LinkedInlinkedin.com/company/genoabank
• Instagraminstagram.com/genoabank/?hl=en

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GenoaBank